Newfield Exploration Posts Q2 Loss

(RTTNews) - Newfield Exploration Co. (NFX) reported a net loss for the second quarter of $22 million or $0.16 per share, compared to net income of $111 million or $0.82 per share for the year-ago quarter.

Excluding an unrealized loss on commodity derivatives of $82 million after-tax, or $0.59 per share. net income for the latest quarter would have been $59 million or $0.43 per share.

Revenue for the second quarter rose to $608 million from $435 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.52 per share on revenue of $582.60 million for the second quarter. Analysts' estimates typically exclude special items.